10-Q, Member Exclusive

Challenger or collaborator: Affirm’s BNPL is on its way to joining Apple Pay

  • The collaboration between Affirm and Apple is different, particularly because Apple also provides its own direct-to-consumer BNPL service.
  • The Affirm-Apple partnership offers positive outcomes for both firms given Apple Pay Later does not directly challenge Affirm's BNPL offering.
close

Email a Friend

Challenger or collaborator: Affirm’s BNPL is on its way to joining Apple Pay

    What does an atypical partnership look like?

    US consumers are increasingly turning to digital wallets, with a significant 64% now indicating that they use them as frequently as traditional payment methods such as cash or cards, according to a survey. Meanwhile, over half [53%], report using digital wallets even more frequently than traditional methods.

    These compelling figures have sparked conversations about the future landscape of transactions, with many asserting that digital wallets represent the future. Amid this fervor, a pertinent question emerges: Is buy now, pay later set to join credit and debit cards as a mainstream payment option? This query gains momentum, particularly in light of the recent partnership announcement between BNPL provider Affirm and Big Tech firm Apple.

    The news: In yet another subtle move, Apple has expanded its range of installment loan options for Apple Pay users, opting for quiet implementation over flashy advertising. 

    This latest move sees Affirm scoring another victory as its buy now, pay later service extends to Apple device users this fall. Those in the US can apply for loans through Affirm directly within the Apple Pay checkout process. “The news is a big positive for AFRM, especially since the stock traded down several times in the past when Apple announced its entry into BNPL,” said Mizuho analyst, Dan Dolev.

    Additionally, installment options via credit and debit cards will soon be accessible on Apple Pay in the US through partnerships with Citigroup, Synchrony, and Fiserv-related issuers. 

    What’s in it for Affirm?

    In joining forces with Apple, Affirm aims to enrich its user experience by providing additional payment choices to Apple Pay users who were previously confined to Apple’s native Pay Later option to pay in installments when making purchases online or within apps on their iPhones and iPads. Now they can use Apple Pay for transactions while also tapping into Affirm’s flexible installment payment solutions at checkout.

    What happens to Apple Pay Later?


    subscription wall for TS Pro

    0 comments on “Challenger or collaborator: Affirm’s BNPL is on its way to joining Apple Pay”

    10-Q, Member Exclusive

    Year-End Showdown: Wall Street’s perks & promotions are messier than your holiday leftovers

    • Wall Street bonuses are set to jump by as much as 35% this year, fueled by a rebound in corporate deals, stock sales, and debt transactions in 2024.
    • However, not all members of Wall Street institutions may find a pot of gold at the end of the rainbow. Citi, for example, is moving in the opposite direction.
    Sara Khairi | December 09, 2024
    10-Q, Member Exclusive

    Bank of America on unlocking greater accessibility in reward programs

    • How effective are reward programs in retaining customers, how do different generations interact with them, and how accessible are they to the average consumer?
    • Shikha Narula, Bank of America's Head of Rewards, shares how Bank of America's Preferred Rewards program measures and evaluates its performance in these areas.
    Sara Khairi | November 25, 2024
    10-Q, Member Exclusive

    Trump 2.0: Can Wall Street handle round two?

    • With the leader now chosen, it's time to face the bigger question: what impact will Trump's victory have on the nation, the economy, and the banking sector?
    • While there’s plenty of talk around this topic, we narrow in on the core cause-and-effect dynamics that could unfold in the banking sector.
    Sara Khairi | November 18, 2024
    10-Q, Member Exclusive

    The little-noticed side of TikTok finance: From off-the-wall money tips to fresh perspectives

    • Following TikTok for financial advice is about learning to separate the real value from the misleading chatter.
    • We look at one of the more grounded voices in the TikTok financial space and discuss why her content may make practical sense for those looking to improve their financial journey -- especially women.
    Sara Khairi | November 11, 2024
    10-Q, Member Exclusive

    What practices could differentiate banks in the talent war, even if they ruffle their feathers?

    • Reports of sudden deaths among young people, including One Direction's Liam Payne, have raised alarms. A recent case in the financial sector linked to brutal work hours has particularly gained attention and unsettled the industry.
    • Banks are keen to attract top talent through job fairs and internships, yet may miss out on addressing what employees value beyond salary.
    Sara Khairi | November 04, 2024
    More Articles